Deluxe, which was represented by Roy Longman of Cresa Partners,extended its lease of two full floors for an additional six years.Deluxe was one of the original tenants in the four-story,130,000-square-foot office building, which was built in 2005 andremains 100% leased, with State Compensation Insurance Fund as itsother tenant.


Stockwell tells that Deluxe's original lease wasexpiring at the end of this year. In addition to the 65,000 squarefeet on the top two floors that was renewed, Deluxe has anadditional 13,000 square feet on the ground floor that runs for afew more years. The 2400 Empire Ave. building that Deluxe occupiesis part of a two-building project called Burbank Empire Center. Theother Empire Center building, at 2350 Empire Ave., is three storiesand 100,000 square feet and is 100% leased to AllianzInsurance.


Terms of the Deluxe lease were not disclosed. The average askingrent in Burbank for existing buildings is about $3.02 per squarefoot per month, not counting two large brand-new buildings,according to CBRE Marketview for the second quarter of thisyear.

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